MasterCraft Boat (NASDAQ:MCFT) Announces Earnings Results, Beats Estimates By $0.15 EPS

MasterCraft Boat (NASDAQ:MCFTGet Rating) posted its quarterly earnings data on Wednesday. The company reported $1.21 earnings per share for the quarter, beating the consensus estimate of $1.06 by $0.15, MarketWatch Earnings reports. MasterCraft Boat had a net margin of 9.87% and a return on equity of 58.85%. During the same quarter last year, the business posted $0.97 earnings per share. MasterCraft Boat updated its FY 2022 guidance to $4.30-$4.30 EPS.

Shares of MCFT stock traded up $0.38 on Thursday, reaching $23.33. The company had a trading volume of 131,452 shares, compared to its average volume of 113,096. The company has a current ratio of 1.48, a quick ratio of 0.38 and a debt-to-equity ratio of 0.57. The stock has a market cap of $431.56 million, a PE ratio of 7.26 and a beta of 1.88. The company has a 50-day moving average of $24.67 and a 200-day moving average of $26.40. MasterCraft Boat has a 12 month low of $22.08 and a 12 month high of $33.63.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. MetLife Investment Management LLC boosted its holdings in shares of MasterCraft Boat by 67.7% in the 1st quarter. MetLife Investment Management LLC now owns 8,982 shares of the company’s stock valued at $221,000 after buying an additional 3,626 shares during the last quarter. Group One Trading L.P. increased its position in MasterCraft Boat by 55.9% during the 1st quarter. Group One Trading L.P. now owns 1,394 shares of the company’s stock worth $34,000 after buying an additional 500 shares during the period. American Century Companies Inc. increased its position in MasterCraft Boat by 121.7% during the 1st quarter. American Century Companies Inc. now owns 37,043 shares of the company’s stock worth $912,000 after buying an additional 20,334 shares during the period. Bank of New York Mellon Corp increased its position in shares of MasterCraft Boat by 1.3% in the first quarter. Bank of New York Mellon Corp now owns 82,990 shares of the company’s stock worth $2,042,000 after purchasing an additional 1,042 shares during the period. Finally, Barclays PLC boosted its stake in MasterCraft Boat by 28.3% in the fourth quarter. Barclays PLC now owns 22,822 shares of the company’s stock valued at $646,000 after buying an additional 5,039 shares in the last quarter. 89.93% of the stock is owned by institutional investors and hedge funds.

A number of analysts have commented on the stock. B. Riley reaffirmed a “buy” rating and set a $47.00 price objective on shares of MasterCraft Boat in a research note on Monday, March 28th. Zacks Investment Research lowered shares of MasterCraft Boat from a “buy” rating to a “hold” rating in a research report on Saturday, April 9th. Truist Financial lowered their price target on MasterCraft Boat from $30.00 to $26.00 in a report on Wednesday, January 26th. StockNews.com assumed coverage on shares of MasterCraft Boat in a research note on Thursday, March 31st. They issued a “buy” rating on the stock. Finally, Robert W. Baird lowered their price objective on shares of MasterCraft Boat from $40.00 to $36.00 in a research note on Thursday. Two analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, MasterCraft Boat presently has an average rating of “Buy” and an average target price of $36.40.

About MasterCraft Boat (Get Rating)

MasterCraft Boat Holdings, Inc, through its subsidiaries, designs, manufactures, and markets recreational powerboats. It operates through three segments: MasterCraft, NauticStar, and Crest. The MasterCraft segment produces recreational performance sport boats and luxury day boats under the MasterCraft and Aviara brands, which are used for water skiing, wakeboarding, and wake surfing, as well as general recreational boating.

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Earnings History for MasterCraft Boat (NASDAQ:MCFT)

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